SINGAPORE, March 5 (Bernama-BUSINESS WIRE) -- A.M. Best has affirmed the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of BNZ Life Insurance Limited (BNZ Life) (New Zealand). The outlook of these Credit Ratings (ratings) is stable.
The ratings reflect BNZ Life’s balance sheet strength, which A.M. Best categorizes as very strong, as well as its strong operating performance, neutral business profile and appropriate enterprise risk management.
BNZ Life’s balance sheet strength is supported by risk-adjusted capitalization that is maintained at the strongest level, as measured by Best’s Capital Adequacy Ratio (BCAR). Despite a high dividend payout ratio, BNZ Life has a favorable level of liquid assets to meet its contractual obligations, supplemented by positive operating cash flows. The company’s regulatory solvency margin is modest compared with other New Zealand life insurers.
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